Kleiza had previously exercised a player option in his Raptors contract to make $4.6 million next season. The Raptors, however, decided Monday to use the amnesty clause on Kleiza, a source said. The move will save Toronto from a luxury-tax hit, although the franchise still has to pay Kleiza's salary.

If no team under the salary cap makes a waiver bid for Kleiza, he will become an unrestricted free agent.

Kleiza played for Olympiakos of the Greek League during the 2009-10 season, and a source said his preference is to return to play overseas again. Kleiza averaged 7.4 points and 2.6 rebounds in 20 games last season while being slowed by a knee injury.